优迅股份闯关科创板上市：股权变动频繁，原实控人Ping Xu退出

Core Viewpoint - Xiamen Youxun Chip Co., Ltd. (referred to as "Youxun Chip" or "Youxun Co.") has updated its prospectus for an IPO on the Shanghai Stock Exchange's Sci-Tech Innovation Board, aiming to raise 889 million yuan [1] Financial Performance - For the first half of 2025, Youxun Co. reported revenue of approximately 238 million yuan and net profit of about 46.96 million yuan, with a non-recurring net profit of around 41.69 million yuan [3] - Revenue figures for 2022, 2023, and 2024 were approximately 339 million yuan, 313 million yuan, and 411 million yuan, respectively, with net profits of 81.40 million yuan, 72.08 million yuan, and 77.87 million yuan [3] - The company declared cash dividends of 40 million yuan in 2022 and 18 million yuan in 2024 [3] Business Model and Operations - Youxun Co. specializes in the research, design, and sales of optical communication front-end transceiver chips, with applications in various fields including access networks and data centers [4] - The company operates on a Fabless model, outsourcing wafer procurement and testing services while focusing solely on chip design and sales [5] Historical Background - Youxun Co. was originally established as Xiamen Kexin Microelectronics Technology Co., Ltd. in February 2003, with an initial registered capital of 250,000 USD [5] - The company has undergone multiple equity transfers and capital increases, with significant changes in shareholding structure over the years [6][11] Shareholding and Control - As of November 2022, Youxun Co. had no actual controller, but since then, the actual controllers have been Ke Binglan and Ke Tenglong, collectively holding 27.13% of the voting rights [12]